Two interesting economic-related reports were released recently:
The Federal Reserve Bank of Boston releases housing related economic indicators monthly. The results, shown in the table below, are from the October release.
Vermont's home prices have dropped less than New England's and the nation's, and the drop in the number of permits has been about equal to the decrease nationally.
Interestingly, the number of existing home sales has declined more in Vermont compared to nationally. According to VHFA's analysis of Property Transfer Tax records, through the end of September the number of home sales was down 26 percent from the same time last year (this would include new and existing home sales).
The local non-profit research firm, Public Assets Institute, released a report in October titled "State of Working Vermont 2009," and reported the private sector construction industry lost the highest percentage of jobs between December 2007 and August 2009, with a 19.6 percent drop of 3,200 jobs.
Manufacturing was next hardest hit with a 15.2 percent drop of 5,400 jobs.
Finally, as can be seen in the charts from the report here, Vermont's median income has not kept up with other rising costs.
Source: http://www.bos.frb.org/economic/neei/summaries/vt.pdf
Source: U.S. Census, 2008 American Community Survey, 1-year estimates
*Not adjusted for inflation
Sources: U.S. Department of Energy, Energy Information Administration; U.S. Department of Labor, Bureau of Labor Statistics; U.S. Department of Housing and Urban Development, Fair Market Rents; Vermont Department of Labor; Vermont Department of Taxes; U.S. Census, The Hanson Index, MVP